PART 3Finance

F1CHAPTER 2Other financial restrictions

Annotations:

F2Provision of financial services relating to foreign exchange reserve and asset management15CA

1

A person (“P”) must not provide financial services to a person mentioned in paragraph (2) where—

a

the financial services are for the purpose of foreign exchange reserve and asset management; and

b

P knows, or has reasonable cause to suspect, that the financial services are provided to such a person.

2

The persons mentioned in this paragraph are—

a

the National Bank of Belarus,

b

the Ministry of Finance of Belarus,

c

a person owned or controlled directly or indirectly (within the meaning of regulation 7) by a person mentioned in sub-paragraphs (a) or (b), or

d

a person acting on behalf of or at the direction of a person mentioned in sub-paragraphs (a) or (b).

3

Paragraph (1) is subject to Part 6 (Exceptions and licences).

4

A person who contravenes the prohibition in paragraph (1) commits an offence.